US Precious Metals (fka USPR)

[gitreal]

John Fife, toxic lender for USPR

NATURE OF THE ACTION
1. In 2002 and 2003, defendants John M. Fife ("Fife") and Clarion Management, LLC ("Clarion Management") (collectively, "Defendants") engaged in a fraudulent scheme to, purchase variable annuity contracts issued by the Lincoln National Life Insurance Company ("Lincoln") in order to engage in "market timing" in mutual funds for the benefit of Clarion
Capital, LP ("Clarion Capital"). Clarion Capital was a Chicago-based hedge fund formed by Fife for the express purpose of engaging in market timing through the purchase of variable
annuity contracts. Fife controlled Clarion Capital and carried out the scheme through Clarion Management, the hedge fund's general partner and unregistered investment adviser.

In case you're interested, here's more:
http://www.sec.gov/litigation/litreleases/2007/lr19972.htm